Reduced barriers to trade help explain an increase in U.S. exports and imports relative to GDP since 1950
a. True
b. False
Indicate whether the statement is true or false
True
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Social Security benefits are determined by a complex formula that is rarely discussed publicly but the information is available on the Social Security Administration's website
A recipient's lifetime earnings is indexed and averaged over the highest 35 years of earnings to obtain an Average Monthly Indexed Earnings amount (AIME). If Social Security benefits begin at age 65 to 67, the monthly benefit in 2007 is 90% of the first $680 of AIME, 32% of AIME above $680 and less than $4100, and only 15% of AIME in excess of $4100 . For example, an individual whose indexed earnings were at the poverty level of $10,200/year would receive 78.4% of that in benefits, while an average earner of $37,000/year would receive only 44.8% of that in benefits, and individual's with above average earnings receive an even lower proportion in benefits. Using this information how could one argue that the payroll tax is not regressive?
The Monetarist model differs from the classical model in that
a. changes in aggregate demand, not aggregate supply, drive changes in output. b. changes in the money supply drive changes in inflation inflation. c. changes in aggregate supply, not aggregate demand, drive changes in ouput. d. money demand is not always stable. e. none of the above.
On May 12, 2011, it cost U.S. $1.44 to buy 1 euro. How many euros would U.S. $1 buy?
A. 0.69 B. 1.44 C. 1.69 D. 2.44
Suppose that we are currently at point b in Figure 14.1. A decrease in the price level will result in a:
A. shift in the AD curve from AD1 to AD2. B. shift in the AD curve from AD1 to AD0. C. movement from point b to point a. D. movement from point a to point b.